The Government on Friday announced Rs 6,000 per year cash support to small and marginal farmers that will cost the exchequer Rs 75000 crore annually, in a bid to provide relief to the distressed farm sector.
Under the scheme called Pradhan Mantri Kisan Samman Nidhi, Rs 6,000 will be transferred into bank accounts of farmers holding up to 2 hectares of land in three equal installments.
Announcing the scheme during the Budget speech in Lok Sabha, Finance Minister Piyush Goyal said it will benefit 12 crore farmers and will be implemented from this fiscal itself.
He said Rs 20,000 crore have been provided for current fiscal and also announced allocation of Rs 75,000 crore for the next fiscal.
The government on Friday meticulous Small. Small and medium enterprises (MSMEs) have announced a subsidy of 2 percent on loans up to Rs 1 crore. Finance Minister Piyush Goyal presenting the interim budget for the financial year 2019-10. The government has taken several steps to support the MSME sector, providing jobs to crores of people in the country. We have recently announced the facility of getting a loan of Rs 1 crore in 59 minutes.
They said. All MSME units, which will be registered under item and service tax (GST). They will now be given two percent interest subsidy on loans up to Rs 1 crore. Goyal said that the government has increased the share of MSME in government procurement through government market (GEM) to 25 percent. Which includes 3 percent of MSMEs run by women. He said that so far, GEM has registered a transaction exceeding Rs. 17.500 crores, which saved 25-28%.
